[1off]

hi i wanted to know, what do i need to do, do i only apply for the permits and file a DBA or is there more?

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Originally Posted by 1off

hi i wanted to know, what do i need to do, do i only apply for the permits and file a DBA or is there more?

Why in the world did you decide to operate as a sole proprietor?!

[pboychuk]

Originally Posted by jmenq2

Why in the world did you decide to operate as a sole proprietor?!

why not????????????

[JLeezer]

Originally Posted by jmenq2

Why in the world did you decide to operate as a sole proprietor?!

That's a bit premature of a question.

Let me preface my response with: I'd highly investigate whether the need for another corporate entity is necessary before pursuing using a sole proprietorship model.

That being said, in most states all that is necessary to conduct business as a sole proprietor is to receive the necessary permits and file a DBA (assuming your last name will not appear in the business' name; if it does, then you may not have to file a DBA at all...check with your state).

BTW, pboy, I was working on a response to your PM about holding companies from my computer at work and forgot to send myself what I had written. Expect a fairly lengthy response in your PM sometime early tomorrow.

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Originally Posted by pboychuk

why not????????????

A sole proprietor faces unlimited liability and is personally responsible for all debts of the business. These alone are enough to convince me to operate under a different business entity, but I can go on if you'd like.

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Originally Posted by JLeezer

That's a bit premature of a question.

Let me preface my response with: I'd highly investigate whether the need for another corporate entity is necessary before pursuing using a sole proprietorship model.

That being said, in most states all that is necessary to conduct business as a sole proprietor is to receive the necessary permits and file a DBA (assuming your last name will not appear in the business' name; if it does, then you may not have to file a DBA at all...check with your state).

BTW, pboy, I was working on a response to your PM about holding companies from my computer at work and forgot to send myself what I had written. Expect a fairly lengthy response in your PM sometime early tomorrow.

Why is it a bit premature? Can you think of an advantage to operating as a sole proprietor rather than, say, an LLC?

To create an LLC, all you have to do is file Articles of Organization and obtain necessary permits, right? Not a whole lot more difficult that a sole proprietorship but with HUGE advantages over it, wouldn't you say?

Correct me if you think that I am wrong. I would definitely like to know of any real advantages of a sole proprietorship over an LLC, as I am presently unaware of any.

[pboychuk]

Originally Posted by jmenq2

A sole proprietor faces unlimited liability and is personally responsible for all debts of the business. These alone are enough to convince me to operate under a different business entity, but I can go on if you'd like.

Fair enough, I just registered an LLC, and I can honestly say it was much easier than registering a sole proprietorship which is what I had been in the past. However, I still have much to learn.

[pboychuk]

Originally Posted by JLeezer

That's a bit premature of a question.

Let me preface my response with: I'd highly investigate whether the need for another corporate entity is necessary before pursuing using a sole proprietorship model.

That being said, in most states all that is necessary to conduct business as a sole proprietor is to receive the necessary permits and file a DBA (assuming your last name will not appear in the business' name; if it does, then you may not have to file a DBA at all...check with your state).

BTW, pboy, I was working on a response to your PM about holding companies from my computer at work and forgot to send myself what I had written. Expect a fairly lengthy response in your PM sometime early tomorrow.

Wow, I appreciate the time you have set aside to answer my questions. I know there is a lot to learn, and I do not want to hire an account or attorney just yet, so your support has been very helpful in pushing me along as I try to grow. I will be on tomorrow to check for your reply.

Thanks Again,
Peter

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Originally Posted by pboychuk

Fair enough, I just registered an LLC, and I can honestly say it was much easier than registering a sole proprietorship which is what I had been in the past. However, I still have much to learn.

You're off to a fine start then. This is just my personal opinion, so not legal advice obviously, but I would never EVER operate a business as a sole proprietorship. There's just too much to be lost by doing so. And although sole proprietorships and partnerships are more flexible than corporations, LLCs afford the same flexibility while still offering the limited liability of corporations. I just have yet to find a good reason for operating as a sole proprietorship or partnership rather than as an LLC. Thanks for your insight!

[pboychuk]

Originally Posted by jmenq2

You're off to a fine start then. This is just my personal opinion, so not legal advice obviously, but I would never EVER operate a business as a sole proprietorship. There's just too much to be lost by doing so. And although sole proprietorships and partnerships are more flexible than corporations, LLCs afford the same flexibility while still offering the limited liability of corporations. I just have yet to find a good reason for operating as a sole proprietorship or partnership rather than as an LLC. Thanks for your insight!

I was 16 when I registered my SP, lets just say I didnt know anything about anything...